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  5. Metalart Corporation Business Report FY ended Mar. 2015

Metalart Corporation Business Report FY ended Mar. 2015

Financial Overview

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 Rate of Change
(%)		 Factors
Overall
Sales 25,753 27,238 (5.5) 1)
Operating income 1,260 2,213 (43.1) 2)
Ordinary income 1,629 2,200 (26.0)
Net income 982 1,384 (29.0)
Automotive Components
Sales 18,617 19,125 (2.7) -


Factors
1) Sales
-Sales decreased year-on-year because the recovery, which was expected to materialize after demand fell as a result of the consumption-tax being increased, was slower than expected, and because major customer demand decreased due to severe market competition.

2) Income
-Income decreased year-on-year due to lower sales and higher expenses incurred because of initial start-up costs involved with launching operations at PT. Metalart Astra Indonesia.

Recent Development Outside Japan

Expanding Indonesian operations
-The Company has set a target of generating more than JPY 10 billion in sales from its Indonesian business by 2020. The Company, which currently supplies its products mainly to the Toyota Group, is poised to expand its sales network to other Japanese automakers' facilities in Indonesia. Metalart's Indonesian plant, the Company's first overseas plant, is scheduled to start production by the end of 2014. By using a 4,500-ton forging press machine, the largest in the Indonesian market, the plant will manufacture crankshafts for 1.0-liter engines. It will also install a 2,500-ton forging press machine and a 2,000-ton forging press machine and will start producing connecting rods and other forging components in 2015. Sales are expected to reach JPY 4.7 billion in the fiscal year ending March 2017. (From an article in the Nikkan Jidosha Shimbun on November 6, 2014)

>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)

Outlook for FY ending Mar. 31, 2016

(in million JPY)
FY ending Mar. 31, 2016
(Forecast)		 FY ending Mar. 31, 2015
(Actual Results)		 Rate of Change
(%)
Sales 25,700 25,753 (0.2)
Operating income 1,130 1,260 (10.3)
Ordinary income 1,180 1,629 (27.6)
Net income 740 982 (24.6)

R&D Activities

-The Company is aiming to become a finished-product supplier operating a seamless production structure, from forging up to finishing and heat treatment, based on developing products under the concepts of simple, slim, and compact.

-Metal Tech Kyushu, which launched operations in 2013, incorporated precision-forging stamping machinery in its machining production line. As a result, the plant can produce products all in one step by combining forging and machining.

-R&D activities involve technology on hollowing to reduce weight, forming without shearing, and helical-gear forging, in order to improve yield and reduce finishing and processing costs.

Technology Licensing-out Agreement

(As of Mar. 31, 2015)
Partners Country Technology The term of a contract
PT. Menara Terus Makmur Karawang,
Indonesia		 Manufacturing technology for forged products Oct. 1996 -
(Automatic renewal)

Capital Expenditure

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 2,127 3,429 1,321


-Major capital investments in the fiscal year that ended in March 2015 were mainly made at PT. Metalart Astra Indonesia.

Data

As of Mar. 31, 2015 As of Mar. 31, 2014 As of Mar. 31, 2013
Total 549 529 509

Sales by Product

 (in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Automotive components 18,617 19,125 18,200
Construction machinery components 6,042 7,056 6,239
Agricultural machine components 585 623 784
Others 507 432 482
Total  25,753 27,238 25,707

Consolidated

 >>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
  FY ended Mar. 31, 2011 FY ended Mar. 31, 2012 FY ended Mar. 31, 2013 FY ended Mar. 31, 2014 FY ended Mar. 31, 2015
Sales (Thousand yen) 26,056,172 28,343,682 25,707,180 27,238,126 25,753,037
Income from ordinary business activities (Thousand yen) 1,545,934 1,917,950 1,650,141 2,200,193 1,629,145
Net income (Thousand yen) 872,561 966,023 1,014,504 1,384,033 982,496
Comprehensive income (Thousand yen) 874,214 972,294 1,057,245 1,353,259 851,253
Net assets (Thousand yen) 7,911,652 8,789,035 9,704,376 11,448,578 12,122,105
Total assets (Thousand yen) 21,679,779 22,764,713 21,976,735 24,689,134 25,348,072
Book value per share (yen) 501.84 557.54 615.60 726.32 769.11
EPS (yen) 55.34 61.28 64.36 87.80 62.34
Diluted EPS (yen) - - - - -
Net asset ratio (%) 36.5 38.6 44.2 44.6 46.9
ROE (%) 11.6 11.6 11.0 13.4 8.6
PER 4.8 6.8 4.8 4.4 6.1
Cash flow from operating activity (Thousand yen) 3,254,303 891,712 1,947,790 5,664,895 1,547,358
Cash flow from investment activity (Thousand yen) (157,919) (1,343,147) (697,641) (3,076,545) (2,504,392)
Cash flow from financial activity (Thousand yen) (1,757,460) (1,514,058) (153,893) (71,392) (224,563)
Balance at the term-end of cash and cash equivalents (Thousand yen) 2,440,167 474,673 1,570,928 3,990,819 2,911,297
Number of employees 498 502 509 529 549

 

Non Consolidated

  FY ended Mar. 31, 2011 FY ended Mar. 31, 2012 FY ended Mar. 31, 2013 FY ended Mar. 31, 2014 FY ended Mar. 31, 2015
Sales (Thousand yen) 26,056,172 28,343,682 25,707,180 27,238,126 25,722,417
Income from ordinary business activities (Thousand yen) 1,244,525 1,212,933 1,158,268 1,396,934 1,506,307
Net income (Thousand yen) 560,078 608,783 695,254 910,502 953,374
Paid-in Capital (Thousand yen) 2,143,486 2,143,486 2,143,486 2,143,486 2,143,486
Number of stock outstanding 15,786,910 15,786,910 15,786,910 15,786,910 15,786,910
Net assets (Thousand yen) 6,635,983 7,156,126 7,752,217 8,539,556 9,397,285
Total assets (Thousand yen) 19,234,472 20,536,538 18,876,590 21,149,541 22,218,965
Book value per share (yen) 420.92 453.95 491.77 541.77 596.23
Dividend per share (yen) 6.00 9.00 8.00 9.00 9.00
EPS (yen) 35.52 38.62 44.10 57.76 60.49
Diluted EPS (yen) - - - - -
Net asset ratio (%) 34.5 34.8 41.1 40.4 42.3
ROE (%) 8.8 8.8 9.3 11.2 10.6
PER 7.4 10.7 6.9 6.7 5.1
Payout ratio (%) 16.9 23.3 18.1 15.6 14.9
Number of employees 267 265 266 268 281